Visa, Mastercard Pause Crypto Push in Wake of Industry Meltdown

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U.S. payment giants Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry, Reuters reported Tuesday, citing people familiar with the matter. Both Visa and Mastercard have decided to push back the launch of certain products and services related to crypto until market conditions and the regulatory environment improve, said the people, who asked not to be named as talks were confidential.

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